Love all, trust a few. Do wrong to none.
William Shakespeare
Tweet of the Day
The Gilded Age was spectacular; we grew the fastest in our history, real income rose, and we had the largest economy.China liberal? Bullshit— Ronald Guillemette (@raguillem) October 21, 2017
You are still referencing politically correct topics. So consider me skeptical.— Ronald Guillemette (@raguillem) October 21, 2017
Well, keep in mind you had to have worked recently to file a jobless claim. We also have a very low labor rate participation rate,— Ronald Guillemette (@raguillem) October 21, 2017
You are delusional. Trump's approval rate is at 35%, down over 20% since inauguration day.— Ronald Guillemette (@raguillem) October 21, 2017
#EachDayIsAVictoryWhen people stop believing in government and start believing in themselves.— Ronald Guillemette (@raguillem) October 21, 2017
Trump has no political principles; he's a self-serving demagogue who is unfaithful to the Constitutional separation of powers.— Ronald Guillemette (@raguillem) October 21, 2017
what seniors do after dinner #NapsInFiveWords— Ronald Guillemette (@raguillem) October 22, 2017
what Trump does after tantrum #NapsInFiveWords— Ronald Guillemette (@raguillem) October 22, 2017
I saw former mediocre Presidents who disgraced the Office by their incompetence or immorality. You have to go back to Grover Cleveland.— Ronald Guillemette (@raguillem) October 22, 2017
You are literally the most delusional partisan asshole on earth. Nobody is attacking science, just BS dogma dressed up as science.— Ronald Guillemette (@raguillem) October 22, 2017
I feel your pain, Bill. Her music sucks.— Ronald Guillemette (@raguillem) October 22, 2017
It's not just this whining is unoriginal, but Presidents generally don't attend service member funerals, and almost all golf.— Ronald Guillemette (@raguillem) October 22, 2017
This country is not a one-trick pony. It's a well-diversified one that emerged from its distinctive liberty roots. < 5% population 20-25% gl— Ronald Guillemette (@raguillem) October 22, 2017
Learn some real history, economic illiterate! FALSE comparisons. China is still issuing 5 year plans, retard! We're done.— Ronald Guillemette (@raguillem) October 22, 2017
Wrong again, RETARD. Take Rockefeller. He gained his wealth by driving kerosene prices by some 80-odd %.— Ronald Guillemette (@raguillem) October 22, 2017
I've been cheering the Astros since my high school years. I'm been waiting a long time for them to finally win the Series. "World Series"— Ronald Guillemette (@raguillem) October 22, 2017
Rediscovering Capitalism in Latin America
Were Native Americans Saints?
Facebook Corner
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| via Bastiat Institute on FB |
I haven't been to a football game where I recited the Pledge of Allegiance and I don't know how you force a crowd of 100,000 to sing and stand for the National Anthem (the vast majority of people don't attempt to sing the anthem because, among other things, some notes are too high/hard to hit).
For those us of who voluntarily live in the US, we do appreciate share in its culture, heritage, and institutions. American football is distinctly an American-created/adapted sport, and it's not unusual that the NFL included the national anthem as part of the game (preliminaries) around the close of WWII. Let's also point out that the anthem is not just part of football, but also included at the beginning of other American-created sports like baseball and basketball.
(Peter Schiff). What a joke. His argument is that Puerto Rico should repay its debts now so that it can borrow more money in the future. First, based on all the debt it has now, it's basically impossible to borrow more money anyway. Plus rather than paying off its debt, Puerto Rico should use that money to rebuild instead. Ironically after a default it will actually be easier for Puerto Rico to borrow money, as the island will be a much better credit risk. Hopefully future creditors will be responsible regarding the amount they are willing to lend given the losses experienced by previous creditors who were not.
I don't have an issue if Schiff were to note that Klarman probably bought Puerto Rico debt on the cheap, hoping for a quick profit on any bailout. I don't have an issue for such a speculation coming up short.
But I think part of the problem is a morally hazardous one, with the PR government implicitly backed by US government guarantees. Would I have financed socialist Puerto Rico government spending, with the idea that Puerto Rico would grow itself out of debt? Hell no. The Puerto Rico voters are responsible for the debt; they elected the political whores who made the loans. Bankruptcy is theft, would set a bad precedent.
(Peter Schiff). Once again the dollar rallied and gold sold off on the news, despite the fact that larger deficits are bearish for the dollar and bullish for gold.
Well, I think the market in the short term is responding to lower economic uncertainty and Yellen hasn't ruled out an interest rate hike. But the long-term picture remains intact: Trump likes a weak dollar, we aren't seeing credible spending cuts, and tax cuts being discussed aren't enough to improve long-term growth.
Political Cartoon
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| Courtesy of Robert Ariail via Townhall |
Musical Interlude: My Favorite Vocalists
Dolly Parton, "Two Doors Down"
